Goodyear Tire & Rubber (NASDAQ:GT – Free Report) had its price objective decreased by HSBC from $16.80 to $15.90 in a report published on Wednesday, Benzinga reports. HSBC currently has a buy rating on the stock.
Separately, StockNews.com upgraded Goodyear Tire & Rubber from a hold rating to a buy rating in a research note on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of Moderate Buy and a consensus price target of $16.98.
Read Our Latest Research Report on GT
Goodyear Tire & Rubber Stock Up 1.7 %
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The business’s revenue was down 8.9% on a year-over-year basis. During the same period last year, the business earned ($0.29) EPS. As a group, analysts expect that Goodyear Tire & Rubber will post 1.06 EPS for the current year.
Institutional Investors Weigh In On Goodyear Tire & Rubber
Several institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $33,000. Headinvest LLC purchased a new stake in Goodyear Tire & Rubber in the third quarter worth approximately $34,000. Kapitalo Investimentos Ltda bought a new stake in Goodyear Tire & Rubber in the 4th quarter worth approximately $72,000. Finally, Headlands Technologies LLC bought a new position in shares of Goodyear Tire & Rubber during the 1st quarter valued at $136,000. Institutional investors own 84.19% of the company’s stock.
About Goodyear Tire & Rubber
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.
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